Wells Fargo upgraded Ecolab from equal weight to overweight and raised its price target from $315 to $380. The bank said the revision reflects the growth potential of Ecolab’s services for data centers and high-tech manufacturing, supported by artificial intelligence demand. Ecolab’s Global High-Tech business is targeting $4 billion in annual sales by 2030 while maintaining a 25% operating margin. Its $4.75 billion acquisition of CoolIT Systems strengthens its direct-liquid-cooling portfolio, while the company recorded 7% organic sales growth in the third quarter of 2026.
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